The deal, which evoked strong response from regional and international investors, was oversubscribed more than two times and carries a coupon of 4.875 per cent.

“The overwhelming response to the Euro bond issuance by Bank Muscat endorses the credibility enjoyed by the flagship bank in Oman. The credentials stemming from long-standing relations with the regional and international investor community reinforces the strategic business plans of the Bank. The bond issue highlights the economic potential of Oman and the sound financial regulatory infrastructure in the Sultanate,” said Sheikh Khalid bin Mustahail Al Mashani, Chairman of Bank Muscat.

To promote the bond issuance, the Bank organised an international road show where top bank officials met with institutional investors in the Middle East, Asia and Europe.

“Bank Muscat is immensely thankful to the regional and international investor community for their trust and confidence in the Bank’s credentials. The positive response from the investor community reaffirms the strong reputation of the bank, sound financial health and credit worthiness. The Bank will continue to focus on national development projects, diversify its funding base and enhance its asset-liability management,” said Waleed K. Al Hashar, Deputy Chief Executive Officer.